Echo Global buys Sharp Freight

Friday, October 26, 2012

Echo Global Logistics said Thursday it has acquired substantially all of the assets of Sharp Freight Systems, an intermodal and truckload brokerage firm based in Yorba Linda, Calif., and with an office in Houston.
For the prior 12 months, Sharp Freight generated about $71 million in gross revenue. Effective immediately, Sharp Freight will begin doing business as Echo Global Logistics.
Founded by Frank Sannebeck in 1965 and led by his son Jim since 1990, Sharp Freight is a non-asset service provider that specializes in intermodal and over-the-road truckload solutions.
Echo Global said "Sharp adds to Echo's existing intermodal offering. Headquartered in Southern California, Sharp is a strong complement to the East Coast acquisition by Echo of Trailer Transport Systems in December 2011. Sharp has strong relationships with both drayage and rail carriers which enable a competitive service offering out of West Coast markets."
It said the presence of Sharp Freight in Houston "complements our Dallas operation, creating a significant base of operations for Echo in Texas. Not only is Houston an important port city, its addition to our national network improves our ability to serve clients moving freight into and out of Mexico."
"The team at Sharp Freight augments our existing intermodal and truckload expertise while increasing our presence in key Southern and West Coast markets," said said Douglas R. Waggoner, Echo Global's chief executive officer. "This acquisition better positions us to offer our clients the simplicity of a complete transportation management solution." - Chris Dupin